$551K NET - Best value in North Brisbane at a 5.3x

$3,600,000

Permanent management rights, Brendale QLD

$551,773 VERIFIED NET OPERATING PROFIT TO END APRIL 2025.
WITH A HEAVILY REDUCED FOR QUICK SALE TO ONLY A 5.3 MULTIPLIER, YOUR ROI HITS A WHOPPING 18.9%!
PRICED TO SELL.

BRENDALE - ADJOINS THE BRENDALE INDUSTRIAL PRECINCT. A MAJOR EMPLOYMENT AREA KEEPING RENTS UP THERE AND DEMAND HIGH! PERFECT POSITION!

The Sellers need to retire and are selling this very good and large netting business. They have now decided to reduce the multiplier to ONLY 5.3 times the verified net!!!

Asking a 5.3 multiplier on the McAdam Siemon Accountants Verified Business Net Operating Profit of $551,773, plus the 2-3 bedroom + office real estate at $675,000.

A complex of 302 lots on a level site within walking distance of many tenant-friendly facilities, including The Strathpine Centre - formerly Westfield.

FINANCE
> Phipps Finance has run the numbers and this business and confirmed it is suitable for a 70% LVR (to approved purchasers).

LETTING POOL
> The business will be sold with a claw provision.

The business highlights and upsides are:

> McAdam Siemon Accountants verified a $551,773 net operating profit to end April 2025.
> The multiplier is at 5.3 times the net.
> The remaining Agreement term is 21 years.
> There are some 43 external agent-managed properties within the complex, ripe for the taking.
> Unit Sales last year hit 33, with this year currently at 11.
> Average 2025 sale price is $605,000. At 2% + GST commission, that totals to an additional $133k for the year to date.
> Last years total commissions - again at 2% + GST equated to $370,000. A share of that each year would make for some good holidays!!

The Real Estate:

> The inclusion of the 2-3 bedroom Managers Villa and large On-Title Office at $675,000.
> Office area on title.
> No requirement to reside on-site.
> No office hours.

A Couple of Highlight Points:

> Transferable staff.
> All equipment, except 2 items, are Body Corporate-owned and maintained.
> Very co-operative and helpful committee.
> The Agreements are Gallery Vie compliant.

More Information

Financial Overview

Total Purchase Price: $3,600,000
Net Income: $ 551,773 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 675,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: undisclosed
_{Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.}

Letting Business

Letting Pool: 51
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 208
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 43
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 302
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 557,483
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 22 years
_{How long is the caretaking contract.}

Agreement Remaining: 21 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 25 years
_{How long has the management rights existed.}

Office Hours: None
_{Required Office Hours}

Complex Features: Villa and Townhouse complex of 302 lots held under One Body Corporate. The complex has East and West Gated entries and an Intercom system.A level site with concrete internal road systems

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 675,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 2

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: Yes
_{Can the manager own a pet on site?}

Unit Features: A large Villa with a rear courtyard off the master bedroom, 2nd bedroom and a former 3rd bedroom converted to second lounge.Also on-title is the large office space, which is large enough to be divided into two areas and potentially adding another bedroom? Presents in a good condition overall with some upgrades in 2024.